iShares Core S&P 500 ETF (Ondo Tokenized ETF) vs Figure Heloc

Figure Heloc (FIGR_HELOC) is 444.0× the size of iShares Core S&P 500 ETF (Ondo Tokenized ETF) (IVVON) by market capitalisation. Over the past 30 days, IVVON is ahead by 7.1 percentage points (IVVON +9.8% against FIGR_HELOC +2.7%). Their daily returns move barely in opposite directions (correlation -0.22 across 51 shared trading days). IVVON has been the more volatile of the two, at 71% annualised against FIGR_HELOC's 52%.

Correlation: -0.22
Size ratio: 1 : 444.0
Ahead over 30 days: IVVON

iShares Core S&P 500 ETF (Ondo Tokenized ETF)IVVON

$777.5200

24h: +1.22%
Market cap: $60.56M
Volume 24h: $1,326
Volatility (ann.): 71%

Figure HelocFIGR_HELOC

$1.0290

24h: -1.08%
Market cap: $26.89B
Volume 24h: $468.14M
Volatility (ann.): 52%

IVVON 0.2%Share of the two combined market caps99.8% FIGR_HELOC

Performance

IVVONFIGR_HELOC

7 days-1.45%+0.19%FIGR_HELOC
30 days+9.76%+2.69%IVVON

Correlation

-0.22over 51 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3090d: insufficient data1y: insufficient data

Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.

Risk & extremes

Metric	IVVON	FIGR_HELOC
Max drawdown (400d)	-15.7%	-5.5%
Risk-adjusted return (90d)	-0.02	0.05

Relative strength over 90 days: FIGR_HELOC outperformed IVVON by 3.7% — measured on the IVVON/FIGR_HELOC ratio, so it holds regardless of market direction.

iShares Core S&P 500 ETF (Ondo Tokenized ETF) →Figure Heloc →